About MGVAX
NYLI MacKay U.S. Infrastructure Bond Fund Class A is an open-end mutual fund specializing in fixed income, with a primary focus on high-quality taxable municipal debt securities. The fund is managed to serve as a strategic portfolio diversifier, offering investors access to municipal bonds that generally exhibit lower correlation with equities, and thus may help reduce overall portfolio risk. A core objective of the fund is to generate attractive income and potential total returns, serving as a compelling alternative to investment-grade corporate bonds and other fixed-income sectors.
This fund implements a relative value approach, utilizing in-depth credit analysis, yield curve positioning, and sector rotation, and emphasizes investment-grade securities at the time of purchase. It invests at least 60% of its assets in taxable munis and may allocate up to 20% to tax-exempt municipal debt. While it may hold select U.S. government debt and high-quality commercial paper, its portfolio is concentrated in infrastructure-related sectors such as transportation, utilities, and public projects. Known for its "quality-up" strategy, the fund has consistently ranked in the top quartile within its Morningstar peer group for key time periods, demonstrating both competitive yields and a prudent approach to credit and sector exposure.
Fund Family New York Life Investment Management LLC
Category Intermediate Core Bond
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol MGVAX
Share Class Class A
Index Index is not available on Lipper Database
MGVAX had a total return of -2.32% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.63%.
